Anglo American Platinum - or Amplats - fell three per cent on Wednesday after wildcat strikes spread to its Union Mine in Limpopo Province, to the northwest of Rustenburg.
On Tuesday evening the firm, which accounts for around 40% of global platinum supply, said staff had reported for work but refused to go underground for their shifts.
Instead the workers presented a memorandum to the mine's management.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company has said it will only negotiate through official channels and obtained an injunction declaring the strike illegal
It demanded staff returned to work on Wednesday morning, but by 1600 the firm had given no further update on activity.
It also said the security situation in the Rustenburg area had worsened during Monday evening and advised employees at its Rustenburg mining operations not to attend work on Tuesday.
The company had intended to resume operations on the day shift on Wednesday morning.
Attendance at Rustenburg has been below 20% since September when the strikes began.
Industrial relations in the South African mining sector have been on a knife edge since 44 people died during violent protests at Lonmin's Marikana project in August.
At 1600 on Wednesday Amplats was trading down 3.1% at 1,813p.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
